Adrian Sarbu

Analysts bullish on CME after Time Warner bailout

Analysts have said the outlook is positive for central and eastern Europe-focused broadcast group CME in the wake of its recent refinancing by Time Warner. Citing “further support” from 49% shareholder Time Warner, credit analyst Moody’s said: “The stable outlook reflects early signs of turnaround in CME’s operating performance with a return to adequate advertising […]

CME boss slams ‘unacceptable’ $45m loss, warns on future

The co-chief executive officer of Central European Media Enterprises (CME), Michael Del Nin, has slammed the firm’s Q3 performance as “unacceptable” as its revenues narrowed and it reported an operating loss of US$45 million. The weak results came as CME warned that if it is unable to secure additional financing, “we will be unable to […]

More high level management departures at CME

CME’s CFO and strategy boss are leaving the central and eastern Europe-focused broadcast group. The news comes in the same week that the Time Warner-backed firm said the general director of its largest single business unit, TV Nova, was stepping down. Company CFO David Sach will exit at the end of the month. David Sturgeon, […]

CME appoints co-CEOs to replace Sarbu

Central European Media Enterprises has appointed a pair of co-CEOs to replace the departing Adrian Sarbu, one a former Alpha Media and RTL Televizija chief exec and the other a Time Warner strategy boss. Christoph Mainusch and Michael Del Nin (left) have been handed the roles, effective September 16. Mainusch has previously been CEO of […]

Sarbu plans new content business backed by CME investment

The president and CEO of Central European Media Enterprises (CME), Adrian Sarbu, has resigned after nearly two decades at the company to set up a content business that CME plans to invest in. In a filing with the Securities and Exchange Commission yesterday, CME said that Sarbu intends to develop the content business next year […]

CME hit by low Czech revenues

Broadcast group Central European Media Enterprises (CME) reported a 14.7% year-on-year drop in revenues and swung to a net loss of US$41 million in the second quarter after a poor performance in the Czech Republic. Revenues for the three months ending June 30 were US$180 million, down from US$211 million for the same period last […]

CME’s examines finance options as losses deepen

Broadcast group Central European Media Enterprises (CME) saw its fourth-quarter net losses deepen as the weakness of the advertising market in central and eastern Europe continued to take its toll. CME ended the year with cash and near-cash reserves of US$140.4 million. The broadcaster said that it was exploring options to improve its liquidity position, […]